Strike learned the hard way that you don't announce reserves estimates until you're really sure as to what they actually are. Strike jumped the gun and announced West Eregulla reserves before the release of the independently certified reserve calculations and got badly burned. I suspect Scott M took note of Strike's lesson learned and this partly explains the care he has taken with release of information from Mukuyu-1.
At present we have mudlogging and wireline/LWD data that indicates the presence of multiple reservoir and hydrocarbons (most likely wet? gas with perhaps some liquids). Unless they've run a magnetic resonance logging tool or analyzed a few sidewall cores they won't have a good handle on reservoir permeability. Pressure data from the RCI/RCX wireline tool will provide a better idea of permeability and also provide other critical information....eg are reservoirs separate systems with their own gas water contacts or do all reservoirs share a common field GWC?
IVZ Price at posting:
33.5¢ Sentiment: Hold Disclosure: Held
